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The $40,000 electric vehicle business tax credit may be easy to get

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Electric buses at a charging station.

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New: President Joe Biden On Electric Vehicle Charging Stations

Plus, the tax credit for bigger trucks is worth more money — up to $40,000 in contrast to the $7,500 maximum for passenger cars and smaller commercial electrics.

“I think it’s going to be a lot more straightforward and easy to take advantage of than the light-duty-vehicle tax credit,” Ingrid Malmgren, policy director at Plug In America, said of the tax credit for commercial EVs. “It’s really a great opportunity for business owners to reduce emissions in a cost-effective way.”

Business owners can get the tax credit for new vehicles purchased on or after Jan. 1, 2023. It’s available for 10 years, through the end of 2032.

How…



Source cnbc.com

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